Four years
ago, on March of 2010, Instagram was launched to the market with the idea of
enhance photos and share them in the web. Its creator, Kevin Systrom,and his
ex-classmate Mike Krieger started the company based on the app with a seed
funding from Baseline Ventures ( a firm that focuses on seed investments in
technology companies)
As the time went by, the application was transforming and implementing
new issues like the hashtag, new filters and higher resolution, becoming
Instagram more used and popular.
In April 2012, Facebook announced an offer to acquire the smartphone app
for US$1 billion in cash and stock. At the time the app company just had 13
employees and was comparatively small, however there’s no application as
popular and beloved, with more than 30 million users uploading more than 5
million new pictures per day.
For Facebook was an important investment, its founder expressed: "This is an important milestone for
Facebook because it's the first time we've ever acquired a product and company
with so many users. We don't plan on doing many more of these, if any at all."
The public was concerned about the service that they already knew would
be absorbed by FB, and the investors were concerned about whether it would
contribute to the financial balance of the company.
The Instagram CEO and founder promised the independence of the
application saying:
"It’s important to be clear that Instagram is not
going away. We’ll be working with Facebook to evolve Instagram and build the
network. We’ll continue to add new features to the product and find new ways to
create a better mobile photos experience.
The Instagram app will still be the same one you know
and love. You’ll still have all the same people you follow and that follow
you.You’ll still be able to share to other social networks. And you’ll still
have all the other features that make the app so fun and unique."
As he promised,
the app have been presenting new features, introducing, photo maps and a tool
called Lux for balancing exposure and adjusting brightness, new filters
and higher quality camera, keeping
its independence from Facebook, but creating ways to join both social networks.
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